Rémy CEO leaves post after three months

Rémy Cointreau has announced that its CEO is stepping down after just three months in the role due to “personal reasons”.

Frédéric Pflanz has resigned as CEO of Rémy Cointreau after just three months in the role

Frédéric Pflanz resigned from the post of chief executive officer of the French drinks group yesterday (2 January) having only taken up the role in September 2013.

It was announced in July last year that Pflanz would be promoted to CEO from his position of CFO, with Luca Marotta stepping in as his replacement.

A statement released by Rémy Cointreau said: “The Board of Directors thanked Frédéric Pflanz for his contribution to the group’s sound financial achievements over the past four years.”

Pflanz will remain with the group as development director with responsibility for specific assignments that he already initiated.

Rémy Cointreau’s chairman François Hériard Dubreuil will now take up the role of CEO as a transitional measure.

The group also stressed that its current strategy will remain unchanged.

The news of Pflanz’s departure comes as only two months after Rémy Cointreau announced a 10.4% drop in net profits for the first half of 2013, blaming a slowdown in the Cognac market due to China’s crackdown on conspicuous spending.